Today, we are delving deep into the most interesting CEE funding rounds that took place in August, the second month of Q3 2022. This time AI, FinTech, Blockchain, and Martech attracted investors' interests.
Let’s discover the TOP August startup funding rounds in CEE!
Redstone.finance
Location: Warsaw, Poland
Launch date: 2020
Funding Round: Seed €6.9M
Funding Source: Lemniscap, Blockchain Capital, Coinbase Ventures, Distributed Global, Lattice Fund, Arweave, KR1 plc, Bering Waters, Maven11, SevenX, Folius Ventures, Numeus, The Graph, 4SV, PermanentVentures, ComputeVentures
Total funding received: €7.5M
Founded in 2020, Polish Redstone.finance is a DeFi platform that aims to improve connectivity between blockchains. Startup offers two data-focused products: RedStone Oracles that deliver price data feeds covering long tail tokens, Forex, commodities and much more & Warp Contracts, a modular Smart Contract platform. Recently secured seed round of €6.9M from Lemniscap, Blockchain Capital, Coinbase Ventures, Distributed Global, Lattice Fund, Arweave, KR1 plc, Bering Waters, Maven11, SevenX, Folius Ventures, Numeus, The Graph, 4SV, PermanentVentures, and ComputeVentures will be allocated to powering the growth of the RedStone and growing the core team building products.
Ready Player Me
Location: Tallinn, Estonia
Launch date: 2014
Funding Round: Series B €56M
Funding Source: a16z, Collab+Currency, Endeavor, HartBeat Ventures, Konvoy Ventures, NordicNinja VC, Plural, Punk 6529,, Snowfro, business angels
Total funding received: €4.95M
Estonian Ready Player Me, founded in 2014, is a startup that built a popular platform for creating dynamic, animated avatars to use across virtual worlds. The company has already cooperated with over 3,000 partners and is handling 5 000+ avatars! Recently secured funding in the amount of €56M will be allocated to continue hiring and expand platform features with new tools. Round was led by a16z, and among other investors participating in the round were Collab+Currency, Endeavor, HartBeat Ventures, Konvoy Ventures, NordicNinja VC, Plural, Punk 6529,, Snowfro.
Healee
Location: Sofia, Bulgaria
Launch date: 2016
Funding Round: Seed €2M
Funding Source: Calm/Storm Ventures, Eleven Ventures, KAYA, Nina Capital
Total funding received: €2.7M
Sofia-based Healee is a digital health startup that allows healthcare organizations to quickly launch ready-to-go infrastructure for telehealth, digital check-in, and scheduling services (all configured to custom workflows and branding). The startup has recently been supported by Calm/Storm Ventures, Eleven Ventures, KAYA, and Nina Capital while funds secured in a €2M seed round will finance U.S. expansion and technology development.
RecruitLab
Location: Tallinn, Estonia
Launch date: 2020
Funding Round: Seed €1.9M
Funding Source: BADideas.fund, Change Ventures, Fund Fellow Founders, StartupIst VC
Total funding received: €2.2M
Estonia-based RecruitLab, founded in 2020, is a HRtech startup working on a video-recruitment platform that streamlines and automates the recruitment processes and handles more candidates while reducing hiring time. Among the platform's features users can find applicant tracking, a recruiter’s dashboard, recruitment metrics & statistics and much more! Recently secured seed rounds in the amount of €1.9M from BADideas.fund, Change Ventures, Fund Fellow Founders, and StartupIst VC will accelerate its expansion to the UK, other European markets as well as allow the company to introduce new features.
Okredo
Location: Vilnius, Lithuania
Launch date: 2015
Funding Round: Seed €650K (follow-up round)
Funding Source: Lighthouse Ventures, Lithuanian Business Angel Network, Presto Ventures
Total funding received: €1.7M
Vilnius-based Okredo, founded in 2015, is a SaaS startup that enables SMEs to assess prospective and ongoing business partners’ and clients’ credibility, stability, and sales potential. What’s more, the startup is working on its open-banking solution that will categorize cash flow and other financial parameters, and enable the sharing of financial performance with relevant stakeholders throughout the year. Recently, Okredo landed a seed follow-up round from Lighthouse Ventures, Lithuanian Business Angel Network, and Presto Ventures, while secured funding will be used to accelerate the development of its open-banking solution.
Boomio
Location: Vilnius, Lithuania
Launch date: 2020
Funding Round: Seed €550K
Funding Source: Lighthouse Ventures
Total funding received: €800K
Boomio is a customer loyalty startup that aims to transform its market in a cost-effective and time-efficient way. To do so, the startup introduced its own online platform and mobile app allowing small and medium businesses to create and manage their own rewards & loyalty system for a small subscription fee (instead of paying for tools available for huge companies). Boomio has recently secured a seed round of €500K from Lighthouse Ventures, while obtained funding will support expansion into new markets, and improve product.
CodeAlly
Location: Andrespol, Poland
Launch date: 2019
Funding Round: Seed €430K
Funding Source: Sunfish Partners
Total funding received: €430K
Poland-based CodeAlly is an all-in-one platform that on the one hand offers an online programming and skills testing platform where developers learn, improve, and test their skills, while on the other hand solution combines its skill testing, unique CVs, and talent search tool to match the programmers with tech-forward companies. The startup has recently secured a €430K seed round from Sunfish Partners with plans to further develop its educational platform.
Electronic KYC
Location: Kyiv, Ukraine
Launch date: 2020
Funding Round: Seed €250K
Funding Source: Czysta3.vc
Total funding received: €270K
Kyiv-based Electronic KYC is an identity verification service for secure identity verification of corporate customers that allows companies to improve the conversion rates, collect, validate and transfer data in a cost-efficient, intuitive and safe way. Among available features are document authenticity control, 3D liveness check, video verification, face and address verification and much more. Electronic KYC has recently been backed by Polish Czysta3.vc in a €250K seed round. Funding will be spent on further product development.
edrone
Location: Krakow, Poland
Launch date: 2016
Funding Round: Undisclosed amount in the second part of previous €4.5M Series A round
Funding Source: Atmos Ventures, Muller Medien, PortfoLion Capital Partners
Total funding received: €5.8M
Founded in 2016, Polish edrone is a martech startup providing a platform that analyses customers’ behaviour, processes data, and then follows up with customers by sending them personalised, automatic messages using AI. Recently secured undisclosed funding from Atmos Ventures, Muller Medien and PortfoLion Capital Partners (that is a second part of previous series A round) will be allocated to launching new technologies like the voice-driven commerce product.
Fairo
Location: Kyiv, Ukraine
Launch date: 2019
Funding Round: Seed €2M
Funding Source: Raiffeisen Bank International
Total funding received: €2M
Founded in 2019, Ukraine-based startup Fairo is a fintech startup providing an app for private entrepreneurs to manage and control their finances (stress-free tax reporting, automated accounting, and banking services like currency exchange, credits cards etc.). The company has recently closed a €2M seed round from Raiffeisen Bank International with a goal to support the Ukrainian team and accompany the clients, while also improving existing services.
Sources: Vestbee VC & startup community, startup press releases, web & social media monitoring, Crunchbase
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